Not sure if they have upgraded to desktop appraisals but if they are still doing in person appraisals , make sure you get everything (scope of work, good faith deposit, social, LLC docs, insurance, proof of prior experience, financial statements) in ASAP.

However, we just started STR property management and it would be very helpful/look more professional to have the ability to esign contracts, autogenerate payout statements, direct deposit payouts, ect.  

We've never even had a tenant try to sue us over a security deposit dispute.For the last 10+ years, I have occasionally asked for just one example of an investor that was sued, lost, and the judgment exceeded their insurance coverage.

The other part of this is that in addition to this, we are borrowing from our home equity line of credit to put down the 20% deposit- so we have that payment too.   

Once they sign the lease and pay the deposit I credit them back the cost of the background checks off their first month’s rent.

. $1450 mo.) for$ 220,000 for the deposit.

I offered her before this event to move out and honor deposit back even contract building is 6months lease also wafted some negotiation with HoA they offered to move her to alternative unit.

Yes, you can deduct the 8 days rent from the security deposit.

I have a separate interest bearing account for security deposits as required by my state laws.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.